Stocks Boast Midday Gains on Road to Big Weekly Weekly Wins

Plus, inflation and consumer spending data

Deputy Editor
Oct 28, 2022 at 9:18 AM
facebook X logo linkedin

Wall Street is brushing off a dismal earnings report from (AMZN), and opting to favor unsurprising inflation and steady consumer spending data. Specifically, the employment cost index rose in line with economists' estimates, while consumer spending rose a better than expected. As a result, the Dow Jones Industrial Average (DJI) sports a 586-point lead, and is on track for a fourth-straight weekly and sixth consecutive daily win. The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are notably higher as well, as each index heads for a second-straight week in the black.

Continue reading for more on today's market, including:

  • Oil stock hits another peak after record-setting profits.
  • How to prepare for the "White Gold Rush."
  • Plus, Pinterest options pop after earnings; NUVL soars after positive study data; and bear note sinks LeMaitre Vascular stock. 

Midday Market Stats October 282022

Halfway through the session, Pinterest Inc (NYSE:PINS) has already seen more than 59,000 calls and 26,000 puts exchanged, which is six times the average intraday volume. The most activity is taking place at the weekly 10/28 26-strike call, which indicates these traders see more upside for Pinterest stock by the session's end. At last check, PINS was trading at $24.94, boasting a 13.6% midday lead, though it remains down 45.5% year over year. This rise follows the company's upbeat third-quarter results, as well as a deluge of post-earnings bull notes. Today's pop also put PINS back above its 200-day moving average, a trendline that has moved between support and resistance multiple times over the last month.

PINS Chart October 282022

At the very top of the Nasdaq today is Nuvalent Inc (NASDAQ:NUVL), which is trading near record highs after the company reported positive data from a lung cancer therapy study. Nuvalent stock was last seen 66.4% to trade at $36.59, with further tailwinds coming after BMO hiked its price target to $50 from $28. Thanks to today's surge, the shares are now up more than 97% in 2022.

Meanwhile, Barrington Research downgraded LeMaitre Vascular Inc. (NASDAQ:LMAT) to "market perform," after the company reported third-quarter profits and revenue that fell below analysts' estimates. LMAT is 15.6% lower at last glance to trade at $43.73 and sitting near the bottom of the Nasdaq. Now pacing for its worst week of the year, LeMaitre Vascular stock is now 13.7% lower year-to-date.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI